State-owned oil firms on Saturday hiked jet fuel prices by nine per cent to over Rs. 39,000 per kilolitre following a spurt in international oil rates.
Aviation Turbine Fuel (ATF) prices will be increased by an average of Rs. 3,400 per kilolitre effective midnight tonight, an official of the Indian Oil Corp (IOC), the nation’s largest oil firm, said.
IOC, Bharat Petroleum and Hindustan Petroleum had for three consecutive fortnights reduced ATF rates mostly because international oil prices had eased and rupee strengthened against US dollar.
In three cuts, jet fuel prices in Delhi came down to Rs. 36,188.27 per kl from Rs. 39,188 at the beginning of September.
The hike announced on Saturday would negate all the cuts and ATF prices would be back to their September levels.
The official said the new rates at the four metros were being worked out and will be announced later.
The three oil firms revise jet fuel prices on the first and the 16th day of every month based on the average global oil price in the previous fortnight.